Bank of England governor Andrew Bailey has said he is "optimistic" that inflation pressures would ease sufficiently for the central bank to cut rates further.
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00:00Well, we've chosen to hold rates today. We've made a lot of progress. Inflation's come down a long way.
00:04And, of course, we were able to cut rates in August.
00:08But our job is to make sure that inflation is sustainably at the 2% target.
00:12There are still some pressures. We've seen services inflation is still elevated.
00:17So I think we're now on a gradual path down. That's the good news.
00:21I think interest rates are going to come down. I'm optimistic on that front.
00:24But we do need to see some more evidence. And, of course, we will be looking at this at every meeting.